S-29.1, r. 1 - Québec Business Investment Companies Regulation

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14.1. For the purposes of the first paragraph of section 13 and 14, any put option, issued on the date of the qualified investment or during the 24 months following such investment and allowing a shareholder of a company to dispose of the shares of the share capital of any company, in the 60 months following the investment, in favour of one or several shareholders of a qualified legal person or of any other person related to such shareholder, is deemed to have been exercised on the date on which such put option was issued.
Such presumption also applies where a put option is exercisable in favour of any person, where a shareholder of a qualified legal person or any person related to such shareholder guarantees, directly or indirectly, the price payable to the shareholder of the company following the exercise of the put option.
O.C. 848-93, s. 1.